Do’s and don’ts for contract management

IT infrastructures are increasingly sophisticated, housing more advanced computer hardware than ever before. Businesses have their work cut out for them when it comes to managing the sheer assortment of maintenance contracts backing their IT assets. Here are several essential modern IT contract management tips that can help businesses better manage their stockpile of OEM and third-party IT maintenance contracts.

 Do utilize a digital contract management platform 

  Do not rely on manual, offline management

In a modern IT system, hardware from different brands are often mixed and matched with each other. This increases the number of unique maintenance contracts to manage as well as the complexity of contract management. SaaS (Software-as-a-service) solutions such as cloud-based contract management platforms digitalize the entire contract management process. With this management tool, businesses can do everything contract-related with greater efficiency, saving enormous time and stress. Organizing data in a digital platform also prevents the misplacement and misfiling of contracts, which are pervasive problems associated with manual, offline contract management.

 Do choose platforms that offer a centralized dashboard

  Do not spread out contracts; use multiple management tools

Cloud-based contract management platforms are designed to consolidate contract details onto a centralized, unified interface. Having access to a holistic, top-down overview of maintenance contracts allows businesses to avoid the hassle of having to review contracts placed in separate physical locations case-by-case or even cross-check multiple contract management platforms. This saves businesses a great deal of time and money.

  Do access data via cloud storage

  Do not use offline storage with limited access

Data accrued on a central platform should be fully accessible anytime, anywhere. Running an IT system or a data center is a day-in, day-out responsibility so IT managers need to be able to access data at the simple click of a button. Cloud storage allows users to stay in-sync with their IT systems 24/7, whether at the office, on the go or working abroad. Good cloud management software will also offer solid, built-in data encryption to keep your data safely secured from any potential breaches or threats.

  Do use a platform with automated alerts

  Do not track contract timelines manually without automated alerts

Each maintenance contract will have unique terms, conditions and timelines that apply. With multiple contract timelines to keep track of, it is easy to forget important contract details when focused on other business operations. A great contract management tool tracks key details and pre-emptively sends out alerts and notifications to remind users of approaching contract renewal/cancellation dates. Automated alerts will give users ample time to make the necessary adjustments and keep IT systems running 24/7.

  Do use an IT ticketing system

  Do not use inefficient communication methods for IT troubleshooting 

IT troubleshooting is essential to keep an IT system up and running. Businesses can benefit greatly from IT ticketing systems, which are used to send tickets for repairing or evaluating critical IT issues promptly. Manually sending IT issue reports without an issue tracking system is both inefficient and unorganized. Track the progress of every ticket submitted and review maintenance history with a ticket backlog. Keep your troubleshooting on point with a proper IT ticketing system.

Interested in a cloud-based contract management tool that checks all the boxes? Learn more about Cover3IT™.

Axiom’s Cover3IT is a cloud-based hybrid contract management platform that helps you manage all your AMS (Axiom Maintenance Services), OEM and third-party contracts and assets with ease while saving you time, money and stress. Forget about the hassle of cycling through multiple logins for various OEM contracts and take control of your maintenance assets in one centralized location.

Ready to optimize contract management efficiency with a digitalized approach? Request a free quote.